5th Circuit: Business Owners Cannot Seek Lost Wages Under BP Settlement

Mealey's (July 20, 2017, 12:35 PM EDT) -- NEW ORLEANS — A Fifth Circuit U.S. Court of Appeals panel on July 19 affirmed a federal judge’s ruling to uphold an appeal denying individual economic loss (IEL) claims submitted by three corporate officers of an architectural firm to the Court Supervised Settlement Program (CSSP) for the Deepwater Horizon Economic and Property Damages Class Action Settlement, finding that the terms of the agreement do not allow for double recovery because the officers’ business and economic loss (BEL) claim had previously been approved (In re:  Deepwater Horizon [Lake Eugene Land & Development, Inc., et al. v. BP Exploration & Production, Inc., et al.], No. 16-30457, 5th Cir.)....